Evidence-linked English operating research. The source and stated coverage below define the scope of this version. Source-page links provide optional verification; the English account is intended to stand on its own.
The FY2024 business description reports sales of 302.50 ten-thousand tonnes of roving and products. This is the disclosed rounded sales figure, not production, year-end inventory or installed capacity. The broader product scope includes roving and products; it is not an electronic-yarn line output.
The FY2024 business description reports electronic fabric sales of 8.75 hundred-million metres. Fabric sales are a length measure, whereas yarn and roving capacities are mass measures. These cannot be added or converted without a disclosed product specification.
Management reports FY2024 generation of 181.8188 million kWh from the Huai'an wind project and an associated claimed CO2 reduction of 103,691.26 tonnes. The carbon reduction is a company-reported calculation, not a separately verified emissions measurement. The report does not attach these operating quantities to the new 500 MW project as commissioned output.
Glass fiber and related products generated FY2024 revenue of CNY 15,479,521,966.15 and cost of CNY 11,711,887,743.52, with a reported gross margin of 24.34%, down 3.23 percentage points. Management attributes the decline to low product prices despite record sales volumes. In the main-business geographic table, domestic revenue was CNY 9,615,792,829.62 with a 22.31% gross margin; overseas revenue was CNY 5,926,032,070.56 with a 28.13% margin. Overseas margin fell by 6.33 percentage points, compared with 0.61 points domestically. These categories describe main-business revenue, rather than the issuer's total consolidated revenue or the sales of an individual overseas subsidiary. The separate 'other' product row generated CNY 62,302,934.03 and a 71.90% gross margin; the narrative identifies it as newly commissioned wind-power generation. That row does not establish the output or profitability of the separate 500 MW development.
Domestic sales represented 61.87% of main-business sales in 2024. Direct sales represented 70.10%, with the remainder of the reported sales-model split through distribution. The top five customers generated RMB 2.518 billion of sales, or 15.88% of annual sales; related-party sales within that top-five group represented 11.42% of annual sales. These figures describe sales channels, geographic mix and disclosed concentration. They do not establish which named customer bought a particular product or which customer is associated with the new Huai'an project.
The FY2024 annual report's industry discussion describes a relatively steady electronic-glass-fiber market, supported by recovering computers, phones and household appliances, while advanced applications were encouraging changes in product mix. In contrast, it describes weak demand for construction and building-insulation uses. Wind energy, automobiles and household appliances supported growth in glass-fiber-reinforced plastics, whose thermoset and thermoplastic processes represent different downstream material markets. The report attributes its industry data to the China Fiberglass Industry Association and other named statistical sources. These are industry conditions reproduced in the issuer's discussion, not Jushi's own product-by-product revenue, customer orders or proof that its new electronic line was delivering to AI-related customers. They explain why a single glass-fiber demand trend can conceal different end-market conditions.
The annual report's industry review says Chinese glass-fiber yarn production reached 7.56 million tonnes in 2024, up 4.6%, while exports of glass fiber and products reached 2.022 million tonnes, up 12.5%, with export value of USD 2.79 billion, up 4.9%. These aggregate industry figures have different product scopes and are not used to calculate Jushi's market share or its export unit price. The review describes several modest price increases for certain yarn products and signs of an industry recovery, while Jushi's own main-business discussion still reports low selling prices and lower margins during the year. Those accounts concern different scopes and timing, so an industry recovery claim does not establish that the company's annual margins or every product price had recovered. Historical industry charts are condensed here rather than reproduced as a separate dataset.
The five largest suppliers accounted for RMB 2,812,159,400 of FY2024 purchases, or 24.35% of annual procurement. Related-party purchases within that five-supplier group were RMB 758,804,000, or 6.57% of annual procurement. The annual report states these amounts in ten-thousand renminbi; conversion preserves that disclosed precision. The percentage denominator is annual procurement, not the top-five subtotal. The figures indicate concentrated and related-party supply exposure around production inputs, but this passage does not identify each supplier, its input type or dependence of a particular factory or project. They are not added to customer sales concentration, and the supplier companies are not researched further.
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